Within the GuestDiary.com platform, you are now able to let the system send you automatically and straight into you email inbox the pdf reports that will help you :
Spot payment discrepancies
Spot and correct clerical errors
Keep track of your financials
When you opt-in to Reporting Essential, you enable automatic reports being sent to your contact email at a regular, fixed pace. Those reports are received at the start of each month, and cover the figures from the full previous month. To better understand what information you will be receiving and why, here is the 'schedule' for the emails you will be receiving:
Day 2 - Discrepancies Report
The Discrepancies Report is there to highlight potential errors in the system before they become 'set in stone' and much more complicated to correct.
The report looks for discrepancies at 3 different levels : Bill discrepancies (potential errors on invoices), Booking discrepancies (potential errors found in bookings on the Diary) and Payment discrepancies (potential errors in payments entered in the system).
This report is very much a 'checks and balances' report, and therefore should be seen as merely pointing in the direction of potential mistakes, not identifying all mistakes definitively. There can be valid reasons for a booking to still go unpaid past the departure date of the guest, or for a booking to not be invoiced until a latter date... But if for 10 bookings highlighted 1 of them turns out to contain an error, it will have been worth reading.
Day 7 - Tax Report
The Tax Report is a 'Sales' report, showing you the total value invoiced for the date range, the total Tax value and rate applicable, and a detailed summary + breakdown of all Rooms and upgrades invoiced during the period.
This report is obviously well suited to help you with VAT returns, but is also Ideal as a detailed assessment of the 'health' of your property's billings for the previous month or any other date range.
Overall, the aim of Reporting Essentials is simple :
On the 2nd of every month the Discrepancies Report highlights the Reservations, Bills and Transactions that are 'at risk' of errors.
Potential errors are corrected between the 2nd and 7th.
The result is a 'clean' Tax report received on the 7th of the month, showing accurate figures with no anomalies.